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Monday, July 18, 2011

EDU

If the dreaded black candle on an earnings breakout is a sign of trouble, the red candle is the kiss of death. EDU gapped up huge after announcing earnings this morning (why, I don't know, the numbers were not that impressive), but sold off heavily and finished down for the day. Maybe something was said in the conference call that spooked the market, but whatever it was, the dumb money gave somebody a golden opportunity to get out.

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